Cheap Homes for Rent in Tempe, AZ from $600 (149 Rentals)

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

Read Article

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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property at 1718 S Longmore

1718 S Longmore

MesaAZ85202

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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property at 5312 E Taylor St

5312 E Taylor St

PhoenixAZ85008
property at 3313 N 68th St

3313 N 68th St

ScottsdaleAZ85251

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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property at 5900 E Thomas Rd

5900 E Thomas Rd

ScottsdaleAZ85251
property at 13625 S 48th St

13625 S 48th St

PhoenixAZ85044
property at 9605 S 48th St

9605 S 48th St

PhoenixAZ85044

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Showing Results 1-50, Page 1 of 3

Tempe, AZ Local Guide

Cheapest Neighborhoods for Apartments in Tempe, AZ

Pricing Updated: 09/08/2025

Current apartment rentals in the Tempe, AZ area range in price from $350 to $23,863 with an overall median price of $3,059. The three Tempe neighborhoods with the lowest median rent pricing are The Lakes at $943, Guadalupe at $350, and Alameda at $725. Here is today’s list of the top 7 neighborhoods with the lowest median pricing for Tempe Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
The Lakes$2,000$943192
Guadalupe$2,004$35096
Alameda$2,094$7251165
Apache$2,455$725648
Tally Ho Farms Raintree$2,600$1,17779
South Tempe$2,762$898369
West Chandler$7,500$1,177266

Cheapest Available Tempe Apartments for Rent

 

The cheapest available apartment rental in Tempe, AZ is a Studio unit found at Valencia Park in the South Phoenix neighborhood priced from $725. Santorini Villa Apartments in the South Phoenix neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $799. Here is today’s list of the most affordable Tempe apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Valencia ParkSonomaStudio,1BA$725
Santorini Villa Apartments1 Bedroom1BR,1BA$799
Papago Gardens ApartmentsSantorini Villas - 1 Bedroom1BR,1BA$799
Villetta Apartment HomesA21BR,1BA$828
The Molino ApartmentsStudio 315sqftStudio,1BA$849
Terra VidaSAStudio,1BA$885
PolancoStudioStudio,1BA$899
MargoStudioStudio,1BA$899

Best Value Apartments for Rent in Tempe, AZ

As of September 08, 2025 the best value apartment in the Tempe area is the $0.53 price per square foot Furnished Townhome Model at Lofts on 8th | Student Housing in the in the Downtown Tempe neighborhood starting from $999. The second greatest value Tempe apartment is the Two Bedroom Model at Villas at Papago starting at $1,225 with a $1.08 price per square foot in the South Phoenix neighborhood. Here is today’s list of the best values for Tempe apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Lofts on 8th | Student HousingFurnished Townhome4BR,4.5BA$0.53
Villas at PapagoTwo Bedroom2BR,1BA$1.08
Avenue 8B12BR,2BA$1.25
Waterford Place2x2 10622BR,2BA$1.28
New Horizons2 Bed 2 Bath2BR,2BA$1.36
University ParkTwo Bedroom Two Bathroom Ensuite2BR,2BA$1.25
524 W Howe St, Unit 524524 W Howe St1BR,1BA$1.17
Station 211 Bedroom 1 Bath1BR,1BA$1.30
TerrasolB12BR,1BA$1.35
522 W Howe St, Unit 522522 W Howe St1BR,1BA$1.25

Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Tempe, AZ

Ranked #2

Among cities in Arizona for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Tempe, AZ

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Tempe, AZ Rentals by Map

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See the most popular apartments and homes in Tempe, AZ

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Tempe, AZ Rental Homes Map

Frequently Asked Questions about Tempe

What type of rentals are currently available in Tempe?

There are currently 1174 Apartments for Rent in Tempe, AZ with pricing that ranges from $350 to $23,863. There are also 872 Single Family Homes for rent, Condos, and Townhome rentals currently available in Tempe ranging from $615 to $15,000.

What is the current price range for Rental Homes in Tempe?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Tempe ranges from $615 to $15,000 with an average monthly rent of $2,337.

How much are larger Three and Four Bedroom Rentals in Tempe?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Tempe range from $775 to $23,863, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,000 to $14,995. Four Bedroom Single-Family rentals are also available starting from $615 and Four Bedroom Apartments start at $725.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ

Written by: Andrew Jollett

I'm Andrew, your ApartmHomeLiving.com local expert for Phoenix. My earliest memories of Phoenix date back to the mid-2000s when 2 of my sisters moved there (one for work and the other for school).

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.